CHITOSE Group accompanied Prime Minister Kishida on his economic mission to the Middle East from July 16-18, visiting Saudi Arabia’s Crown Prince Mohammed bin Salman and United Arab Emirates (UAE) President Mohamed bin Zayed. Forty companies from cutting-edge technology fields such as new energy, space, medicine, and semiconductors participated in this itinerary. From CHITOSE Group, CEO Tomohiro Fujita, CFO Masayuki Imai, and Senior Manager of Financial Strategy Div. Kyuzo Katsuyama accompanied the group.
— 日本経済新聞 電子版（日経電子版） (@nikkei) July 15, 2023
(Quoted from the Nikkei’s official X feed)
In Saudi Arabia, the UAE, and other oil-producing countries, the breakaway from fossil resources and the creation of new resources is a pressing issue, and there is an urgent need to build industries that are not dependent on oil money. CHITOSE Group is participating in the “Japan-Saudi Vision 2030*1 ” signed last December between the Ministry of Investment of Saudi Arabia and the Ministry of Economy, Trade and Industry. The agreement is to contribute to the development of the bioeconomy in the Middle East through the development of applications and production of diverse bio-products (fuels, foods, pharmaceuticals, supplements, plastics, etc.).
1: A strategic partnership that combines Japan’s “Growth Strategy” and Saudi Arabia’s “Saudi Vision 2030” to break away from the conventional relationship of oil supplier and consumer.
CHITOSE Group attended the “Japan-Saudi Arabia Business Roundtable” on July 16, and the “Japan-UAE Business Forum” on July 17, where government officials and local/Japanese companies gathered. Prime Minister Kishida introduced CHITOSE Group to the leaders of both countries.
Since its establishment, CHITOSE Group has expanded its overseas bases to Singapore and Brunei, and in April this year began operating the world’s largest flat-panel microalgae production facility, CHITOSE Carbon Capture Central (C4), in Sarawak, Malaysia, covering 5 ha. The next target is to expand to 100 ha in 2027, 2,000 ha in 2030, and 10 million ha in the future. During his talk with Crown Prince Muhammad and at a speech, CEO Fujita said, “From the perspective of microalgae production, I see great potential in the Arabian Peninsula with its vast land and strong sunshine. We are going to turn the Arabian Peninsula green from now on,” he expressed his vision, which was met with numerous comments of approval from the audience. In the Middle East, interest in self-sufficiency in resources other than oil is extremely high, and even after the closing of the meeting, CHITOSE members were approached by individual companies for more specific discussions, and our economic mission was reported in the local media. This visit was a great opportunity for us to expand our recognition in the Middle East region and gain a foothold for new business.
— The Saudi Post (@TheSaudi_post) July 16, 2023
Today, all existing industries are built on fossil resources, and resource depletion and the environmental problems are issues that must be addressed by the entire planet. CHITOSE Group has launched the MATSURI project in 2021 to build up existing industries based on algae and to break away from dependence on fossil resources as soon as possible. We will join hands with MATSURI partner companies in various industries such as chemicals, cosmetics, toiletry, fuel, feed, and food, and across borders, to build a microalgae-based industry in Japan, Southeast Asia, and the Middle East, which has never been achieved before.
The MATSURI project aims towards the establishment of an advanced microalgae-based industry. CHITOSE has considerable expertise in large-scale photosynthetic production technologies, and is leading the MATSURI project collaborating with Japanese progressive enterprises. As what MATSURI means in Japanese, CHITOSE keeps leading a festival to develop a sustainable society. If you are interested in MATSURI, please feel free to contact the MATSURI office. Click here to contact us.
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